F&O Radar| Deploy Bear Put Spread in Nifty to gain from range

Nifty saw a sharp reversal, recovering 150 points. ICICI Securities' VP Jay Thakkar highlighted a momentum shift to sell, with critical support at 24,200-24,400. Derivatives show call writing at 24,300-24,600, with strong puts at 24,000. PCR at 0.73 suggests bearish sentiment. Max pain is 24,300, with modified max pain at 24,365.